Important road safety reminders: Labour Day and back to school — August 30

ICBC is advising motorists of two important road safety reminders: the Labour Day long weekend and back to school.

"Over the next few days the roadways will be busy with long weekend traffic and then students heading back to school. Please slow down and drive responsibly," said Solicitor General John Les. "This government is committed to road safety, but we need all motorists to do their part too by driving safely."

The three-day Labour Day long weekend - based on the past five-year average - typically sees 1,660 crashes, 550 injuries and five fatalities. These crashes cost ICBC and its customers more than $15 million.

School is back in session as of Tuesday September 4 and police will be monitoring speeds in school zones. When school is in session, a 30-km/h school zone speed limit is in effect from 8 a.m. to 5 p.m., unless otherwise posted. Drivers are also reminded vehicles approaching from both directions must stop for school buses when their lights are flashing. Tragically, car crashes are the number-one killer of children and youth in B.C. ICBC is urging motorists and pedestrians of all ages to make road safety a priority throughout the back to school season.

"As school resumes, many young children will be excited and may forget the rules of the road," said Nicolas Jimenez, ICBC's Director of Road Safety and Loss Prevention. "We're asking all drivers to use extra caution in and around school and playground zones. ICBC works to keep our customers insurance rates low and stable by investing in road safety programs that reduce crashes, injuries, and save lives."

ICBC provides free road safety curriculum materials to schools across B.C. The materials are customized to each grade level and designed to promote road safety awareness among students.

Tips for motorists

• Slow down and leave extra space between your vehicle and the one in front.
• Plan ahead and be realistic about travel times. Allow extra time for possible delays that may arise due to increased traffic volume over the long weekend or construction.
• Make staying focused on the road a priority by keeping distractions to a minimum. Place calls before you drive and pull over to read maps.

Tips for students

• Use designated crosswalks, and obey all pedestrian traffic signs.
• Make eye contact with drivers, so you know they see you and they know you see them.
• Dress to be seen by wearing bright-coloured clothing and adding reflective material to backpacks.
• Cyclists are reminded to always wear a helmet - it's the law. And keep to the right-hand side of the road as much as it is safe to do so.

For more information on road safety, visit www.icbc.com.

Media Contact:
Kate Best
(604) 982-2480

Ryan Detwiller - Southern Interior
(250) 979-4612

Alyson Gourley-Cramer - North Central
( 250) 561-5006

Brian Sargent - Vancouver Island
(250) 414-7895

Research shows right-hand drive vehicles more likely to crash — August 14

ICBC study shows over 40 per cent greater chance of crashing

North Vancouver, BC - A study conducted by ICBC concludes that right-hand-drive vehicles are over 40 per cent more likely to get into a crash over similar left-hand-drive vehicles.

The research looked at whether the right-hand-drive configuration leads to increased crash risk, and whether or not these vehicles offer less protection to passengers than built-for-Canada vehicles of a similar age.

"In the study we found that the average time for a crash to occur after first purchasing a right-hand-drive vehicle was 223 days which is 68 per cent sooner than for left-hand-drive vehicles, which was 705 days," said Peter Cooper, ICBC Manager Performance Analysis Services. "Based on an analysis of the claims data, there was no evidence to suggest that the right-hand-drive vehicles offer less protection."

The research was undertaken in response to a dramatic increase in the number of right-hand- drive vehicles being imported into BC and other parts of Canada. Currently imported vehicles that are 15 years or older do not need to meet Canadian Motor Vehicles Safety Standards. They do however need to meet provincial standards and pass an inspection before being allowed onto the road.

It's estimated that more than 200 right-hand-drive vehicles are imported into BC every month. With the large number of vehicles not designed for North American roads entering BC and Canada, there have been questions raised about their safety.

Transport Canada is currently reviewing the 15-year importation rule. As part of the review, it is expected that Transport Canada will be holding a national consultation session later this fall where motor vehicle administrators, importer associations and the general public will be invited to participate.

In the meantime, ICBC is asking customers considering purchasing right-hand-drive vehicles to do their homework and be aware that driving one of these vehicles presents greater risk.

"If you are driving a right-hand-drive vehicle it is much more difficult to see oncoming traffic when making a left turn and there are similar challenges when pulling away from the curb," according to Nicolas Jimenez, ICBC Director of Road Safety and Loss Prevention. "To stay safe you need to use extra caution and only proceed when you are sure it's clear to do so."

The full ICBC research study can be found on www.icbc.com.

Media Contact:
Doug Henderson
604-982-1332

ICBC wants motorists to show their support to win — August 13

Purchase a 2010 Winter Games licence plate and you could win a 2008 Pontiac Vibe

More than 45,000 British Columbians have shown their support for the Vancouver 2010 Olympic and Paralympic Winter Games by purchasing a 2010 Winter Games licence plate. ICBC wants to continue this strong momentum and is launching the Show Your Support to Win promotion. Participants will be eligible to win a 2008 Pontiac Vibe, donated by the Pontiac Dealers of BC, along with weekly prizes.

"As an Official Supporter of the Games, we want to help make these the most successful Winter Games ever. Sales of the 2010 Winter Games licence plates show that BC motorists agree, with sales averaging 400 plates per day," said Jeff Schulz, ICBC Vice President of Strategic Marketing. "This promotion will help us reach, and hopefully exceed, our sales goals."

ICBC's Show Your Support to Win promotion starts Monday, August 13 and runs through to Monday, December 10, 2007. If you've purchased a 2010 Winter Games licence plate, or are planning to purchase one during the promotion, visit www.showyoursupporttowin.ca. By simply entering the six digits of your 2010 Winter Games licence plate you'll be eligible to win. Full contest details are available on the website, or look for ads in your local newspaper for more information.

"The countdown to the Games continues and we want every British Columbian to be a part of the excitement," said Dave Cobb, VANOC Executive Vice President. "The 2010 Winter Games Licence Plate Program is helping to build this momentum by providing all BC motorists with the opportunity to show their enthusiasm as our province prepares to host the world in 2010."

2010 Winter Games licence plates went on sale April 16, 2007 and can be purchased from Autoplan brokers for an initial fee of $35 (annual renewal fee of $25 until 2012). Net proceeds go towards the successful staging of the 2010 Winter Games and are part of ICBC's sponsorship, as an Official Supporter in the motor vehicle insurance category.

2010 Winter Games licence plates are an official licence plate and will continue to be valid beyond the Games. Customers are encouraged to retain the plates but if they choose to cancel their plate after December 31, 2010, they will get to keep the front licence plate as a souvenir in recognition of their support.

2010 Winter Games licence plates are available for passenger vehicles, motor homes, commercial trucks, commercial trailers, farm trucks, motorcycles and utility trailers. Additional information about 2010 Winter Games licence plates is available at local Autoplan broker offices or at http://www.icbc.com/registration/reg_spec_lic_plates_opp.asp

Media Contact:
Doug Henderson
604-982-1332

Strong financial results help keep ICBC rates low and stable — August 7

ICBC has reported net income of $256 million for the first half of 2007, which compares to $110 million for the same period in 2006.

"The strong B.C. economy means there are more vehicles being insured and our customers are opting for better levels of coverage," said Paul Taylor, ICBC's president and CEO. "As well, ICBC's investment income is strong and our operating costs continue to be lower than industry benchmarks."

With the pricing changes in May, rates are going down or staying roughly the same for half of B.C. motorists who buy both their basic and optional coverage from ICBC. Current positive results in managing claims cost and reducing the impact of crashes could result in future rewards for our safest drivers.

Insurance premiums earned in the first six months of 2007 increased to $1.70 billion from $1.57 billion for the first six months of 2006. The growth in earned premiums is the result of a 3.4 per cent increase in the number of insured vehicles on B.C. roadways and strong sales of optional coverage. Premium revenue also reflects the 3.8 per cent average decrease in rates for optional coverage and the interim 3.3 per cent basic rate increase, both effective in May 2007. Rates for basic, compulsory insurance are regulated by the BCUC.

Net claims costs for the six months ended June 30, 2007 were $1.31 billion, which is consistent with the $1.33 billion reported for the same period in 2006. Claims costs for the current year have trended upward. The change in the cost of prior years' claims had increased in 2006 but stabilized in 2007.

Operating expenses for the first half of 2007 were $241 million, which compares to $240 million for the first half of 2006. Staffing levels at the company's 24-hour call centres and in driver licensing services have increased to improve customer service. ICBC's operating costs continue to be well-managed and include ongoing investments in road safety and fraud and auto crime prevention.

Investment income in the first six months of this year increased to $276 million, from $269 million in the same period last year. The majority of ICBC's investments are in bonds which have been negatively affected by rising interest rates, however, so far this year, gains on equities have contributed to strong investment income.

Media Contact:
Doug McClelland
604-982-2476

Drinking and driving will not be tolerated — August 2

ICBC wants everyone to enjoy a safe BC Day long weekend

Summer is now in full swing and the roads are busy with visitors and residents alike. ICBC is encouraging motorists to avoid high-risk driving behaviours this long weekend, wherever you plan to travel. To help ensure motorists get the message, police across BC continue to be out in full force as part of this summer's drinking and driving CounterAttack campaign.

"There are serious consequences if you drink and drive. Don't ruin your long weekend by getting a driving suspension, having your car impounded, or much worse killing yourself or someone else. Please drive responsibly," said Solicitor General John Les.

On average over the last five years (2002 - 2006), there were 547 injuries and six fatalities in 1,690 vehicle crashes during the three-day BC Day long weekend. These crashes cost ICBC and BC drivers more than $14.2 million in claims costs.

"Bad driving habits affect everyone's insurance rates," said Nicolas Jimenez, ICBC's Director of Road Safety and Loss Prevention. "ICBC invests in road safety to keep rates low and stable, but motorists need to do their part by driving safely."

When you are out on the roads this weekend, remember the following safety driving tips:

• If you plan to drink, choose a designated driver before going out, keep money aside for a bus or taxi, or call a friend for a safe ride home.
• Avoid high-risk driving behaviours, such as speeding, tailgating, running red-lights and stop signs. Practice courtesy and set an example for other drivers.
• Slow down and maintain a safe traveling speed between your vehicle and the one in front.
• Allow plenty of time to reach your destination. Long weekend traffic and weather conditions may affect traffic volume and travel times.

If you are involved in a crash and need to file a claim, ICBC's Dial-A-Claim service is open 24 hours a day, including holidays. In the Lower Mainland, you can call 604-520-8222, for the rest of B.C. call 1-800-910-4222, or file your claim online at www.icbc.com.

Media Contact:
Doug Henderson
604-982-1332

Kate Best
604-982-2480

Alyson Gourley-Cramer (Southern Interior and North Central)
250-961-9299

ICBC sells Central City — August 1

Policyholders benefit from development's turnaround

Effective August 1, 2007, ownership of the Central City development in Surrey, British Columbia, Canada transfers from the Insurance Corporation of B.C. (ICBC) to Blackwood Partners Inc. on behalf of a consortium of Canadian pension funds, who paid $245.75 million for the properties.

Central City was owned by Surrey Central City Mall Ltd., a wholly-owned subsidiary of ICBC. The development includes an office tower, atrium complex, shopping mall and adjacent land. In recent years, ICBC has said that the size of the Central City development meant that it was not appropriate for the company's investment portfolio. During that time, attention has been focused on leasing the space and getting the development ready for sale.

The development is situated in Surrey, B.C., one of Canada's fastest growing cities, and is one of the largest complexes of its type in the Greater Vancouver area.

The components of the Central City project that have been sold include 570,000 square feet of office tower and podium space, and 490,000 square feet of retail mall space. Simon Fraser University continues to own 305,000 square feet in the tower and podium.

The property was acquired in 1999, and the office tower and podium/galleria were completed in 2003. The retail mall was originally built in the 1970s and was refurbished and expanded in the 1980s and 1990s.

The complex is a high-quality building. Central City was the winner of Le Marche International des Professionnels de l'Immoblier (MIPIM) International Property Market's 2004 Special Jury Award as the world's best overall new development for its combination of stunning architecture and building innovation.

The office tower and podium are primarily occupied by large tenants with long-term leases. The retail mall includes a number of major retailers, also with long-term leases.

PricewaterhouseCoopers was retained by ICBC to review the sale of Central City. Their report concluded that there was an effective sale process conducted by a reputable broker.

The investment in Central City was part of the ICBC's investment portfolio, and proceeds from the sale will be reinvested. Investment income helps keeps ICBC's rates low and stable.

Media Contact:
Doug McClelland (604) 982-2476

Copyright © 2008 ICBC - Insurance Corporation of British Columbia